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SECOND & THIRD MORTGAGES
A second or third mortgage is a registered lien against your property that ranks subordinate or second to, or behind a first mortgage lien or line of credit.
People seek and obtain second & third mortgages for various reasons:
- Pay off existing higher rate loans and credit cards.
- Borrow for home improvements or renovations.
- Bring your property taxes up to date and avoid late interest, penalties and potential sale of your property
- Pay off income tax arrears, consumer proposals, judgments, family allowance responsibilities, etc.
- Pay out your spouse’s equity in the event of divorce.
- Bring mortgage arrears up to date.
- Stop power of sale proceedings.
- Pay off creditors, stop harassing collection agency calls.
You may borrow for any reason. Please feel free to contact one of our friendly mortgage underwriters for a FREE no-obligation 30 minute consultation.
Borrow for any Reason
- New Home Purchase
- Refinance
- Mortgage Arrears
- Stop Power of Sale
- Pay out Consumer Proposals
- New Car Purchase
- Business Cash-Infusion
- Child Wedding
- Debt Consolidation
- Property tax Arrears
- Home Improvements
- Construction Loans
- Purchase a Second Property
- Business Start Up
- Vacation
- University Tuition
- Other worthwhile reasons
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